2011-12-19 | Lettre circulaire ST.11-1977Added
The Banque Centrale du Luxembourg sets the 2012 exemption threshold for securitization vehicles at EUR 100 million, unchanged from 2011. Vehicles with a total balance sheet exceeding this threshold during the year must submit statistical reports starting from the quarter in which the threshold is reached. Specifically, reports S 2.14 and S 2.15 are due by the 20th business day following the end of the relevant quarter. Vehicles whose balance sheet permanently falls below the threshold during the year must notify the BCL within the same timeframe to qualify for reporting exemption.
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2, boulevard Royal L-2983 Luxembourg Fax (+352) 4774-4943 E-mail: reporting.titrisation@bcl.lu ./.
Ref.: ST.11-1977 Luxembourg, December 19, 2011
To all securitization vehicles
Subject: 2012 Exemption Threshold for Securitization Vehicles
Madam, Sir,
We have the honor to refer to point 4.3 "Entities subject to statistical reporting by the BCL" of Circular BCL 2009/224 concerning the introduction of statistical collection from securitization vehicles as well as to the basic information we have collected from all securitization vehicles domiciled in Luxembourg.
In accordance with point 4.3 of the aforementioned BCL Circular, and pursuant to Article 5.1(b) of ECB Regulation No 24/2009 of December 19, 2008 on statistics on the assets and liabilities of shell companies carrying out securitization transactions (ECB/2008/30), the BCL intends to exempt certain securitization vehicles from all statistical reporting obligations, with the exception of the obligation to report quarterly data on end-of-quarter balances for total assets, provided that the shell companies contributing to the aggregated quarterly assets/liabilities represent at least 95% of the total assets of the shell companies in terms of balances.
Based on the information collected, we have established that the exemption threshold is set at EUR 100 million for the year 2012 (unchanged from 2011).
It is important to mention that this threshold will be calculated and published annually.
2, boulevard Royal L-2983 Luxembourg Fax (+352) 4774-4943 E-mail: reporting.titrisation@bcl.lu ./.
Companies whose total balance sheet exceeds the aforementioned threshold of EUR 100 million during the year are required to submit reports starting from the end of the quarter in which the threshold was reached.
Reports S 2.14 and S 2.15 must be transmitted no later than the twentieth business day following the end of the quarter to which these data relate.
If the total balance sheet of a reporting company permanently falls below the aforementioned threshold of EUR 100 million during the year, it is necessary to notify the BCL within the same timeframe to benefit from the reporting exemption.
Securitization vehicles subject to the statistical reporting obligation are invited to comply with the instructions and reports available on the BCL website at:
http://www.bcl.lu/fr/reporting/Vehicules_de_titrisation/index.html http://www.bcl.lu/en/reporting/Securisation_vehicules/index.html
Please accept, Madam, Sir, the assurance of our highest consideration.
BANQUE CENTRALE DU LUXEMBOURG
Philippe Arondel Roland Nockels
Head of Section Head of Department
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This document amends: Circular BCL 2009/224 of 8 June 2009 — New Statistical Collection from Securitisation Vehicles
Source: Banque Centrale du Luxembourg — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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